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Export Credit Falling Due to Heavy-Handed Approach to NPAs: Chidambaram

Export Credit Falling Due to Heavy-Handed Approach to NPAs: Chidambaram

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  22 Sep 2018 2:39 AM GMT

New Delhi: The BJP-Congress spat over bad loans of banks continued on Friday with former Union Finance Minister P. Chidambaram blaming the government’s “heavy-handed” approach to the NPA problem for the sharp decline in export credit. He said despite government’s claims of taking steps to boost exports, the export credit had declined sharply to Rs 22,300 crore in June from Rs 39,000 crore in the same month in 2017. “Export credit declined from Rs 39,000 crore in June 2017 to Rs 22,300 crore in June 2018. Yet government claims that it is taking steps to boost exports,” Chidambaram tweeted.

A day after Union Finance Minister Arun Jaitley blamed the UPA government in his blog for the non-performing assets (NPA) crisis, Chidambaram said for the Bharatiya Janata Party government, every problem was due to the Congress “legacy”. Referring to a report released by the United Nations Development Programme (UNDP) and the Oxford Poverty and Human Development Initiative (OPHI), he said that 27.1 crore people in India were lifted out of poverty in the 10 years between 2005-06 and 2015-16. “Of those 10 years, the UPA was in the government for eight years.” (IANS)

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